Tuesday , December 12 2017
Breaking News


Company tax reform consolidating taxes earlier provides clarity and judicial security,


BRUSSEL: This will provide clarity and judicial security for businesses in 2018 and 2019”, he told the Belga agency. Tax consolidation allows a business to share its profits and losses between several entities. Back in the summer the government said it would introduce it in 2020, but has moved it forward to 2019 to include it in the Company tax ... Read More »

Belgium’s tax position strengthens creditworthiness,


BRUSSEL: International ratings agency Moody’s has praised efforts by the Belgian Government to reform the tax system, and said that strong corporate tax revenues combined with prudent fiscal policy have strengthened the nation’s creditworthiness. Moody’s said in a report published on December 8 that advanced corporate tax payments have been “exceptionally large” this year, while stronger economic growth has had ... Read More »

Britain and EU clinch divorce deal to move Brexit talks onto trade,


BRUSSELS:  Britain and the European Union struck a divorce deal on Friday that paves the way for talks on trade, easing pressure on Prime Minister Theresa May and boosting hopes of an orderly Brexit. The European Commission said “sufficient progress” had been made after London, Dublin and Belfast worked through the night to break an impasse over the status of ... Read More »

Farming body Copa-Cogeca opposes plant patents but calls for customs union.


BRUSSEL: Copa-Cogeca opposed the use of patents on plants at a conference this week, warning that it would be a disaster for farmers and small breeders alike and would cut the number of varieties on the market. European farming body said “the only winners” would be the multinationals if a new patent system was mainstreamed. The move came at a ... Read More »

Belgium to continue tax measures for maritime transport to 2022


  BRUSSELS: Belgium has received approval from the European Commission (EC) to prolong its existing tax measures for maritime transport until the end of 2022. The approval was granted under EU state aid rules, which encourage shipping companies to register vessels in Europe to ensure higher social, environmental, and safety standards. Belgium expects to include a number of changes to ... Read More »

Belgium to bring down corporate tax rate


  BRUSSELS: The Belgian Government has agreed to tax reform legislation that will substantially reduce the rate of corporate tax but widen the tax base. Under the proposals, corporate tax, currently 33.99 percent including the solidarity contribution, will be lowered to 29 percent in 2018, and to 25 percent in 2020. In addition, the solidarity contribution will be phased out. ... Read More »

Orange Belgium revenues lift in Q3


BRUSSELS: Orange Belgium said revenues for the first nine months of the year rose 1.5 percent from the year before to EUR 933.7 million. Underlying growth amounted to 4.7 percent, taking into account the impact of the EU roaming regulations, estimated at EUR 28.0 million. Despite a third quarter fall in the adjusted EBITDA, for the nine months, adjusted EBITDA ... Read More »

Belgium August trade deficit narrows


BELGIUM: Belgium’s merchandise trade deficit for August narrowed from a year ago with exports growth exceeding the rise in imports, preliminary data from the National Bank of Belgium showed Monday. The trade deficit decreased to EUR 2.3 billion from EUR 2.6 billion in the same month last year. Exports grew 3.3 percent year-on-year and imports rose 1.6 percent. In July, ... Read More »

Belgium midstream oil and gas market forecast to 2022


  BRUSSELS: The Latest Research Report Belgium Midstream Oil and Gas Industry Outlook to 2022 – Market Forecasts for Liquefied Natural Gas (LNG), Oil Storage, Pipelines and Underground Gas Storage provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. “Belgium Midstream Oil and Gas Industry Outlook to 2022 – Market Forecasts for Liquefied Natural ... Read More »

Jordan, Belgium to establish joint business council


  AMMAN: President of Jordan Businessmen Association (JBA), Hamdi Tabbaa, said Tuesday establishing a Joint Jordanian-Belgian Business Council in the near future will open new horizons for economic cooperation between the two countries. In a meeting with Belgium Ambassador to Jordan Hendrik van de Velde, Tabaa highlighted investment projects and advantages in the Kingdom, calling for benefiting from Belgian expertise, ... Read More »

Belgian ports batten down the hatches for Brexit trade shock


  BRUSSELS: Gridlock at the border, vast motorway car parks and jobs lost: British ports have been vocal about the risks of a hard Brexit. In case Conservative MPs missed the message, the Port of Dover advertised at the party conference, warning that an extra two minutes on lorry inspections could lead to queues of 17 miles at Dover and ... Read More »

EU hammers Amazon, Apple over taxes


  BRUSSELS: The EU turned the screw on US tech giants yesterday, ordering Amazon to repay Luxembourg 250 million euros in back taxes and taking Ireland to court for failing to collect billions from Apple. Europe’s competition chief Margrethe Vestager accused tiny Luxembourg of an illegal deal with internet shopping giant Amazon to pay less tax than other businesses. The ... Read More »

Belgium doubles its investment in humanitarian innovation


BELGIUM: Deputy Prime Minister and Minister for Development Cooperation Alexander De Croo announced in New York that Belgium will double its investment in humanitarian innovation next year. The Minister was speaking at New York University in front of a thousand-strong audience at Global Citizen Live!, a musical event with performances by Paul Simon and others. Alexander De Croo: “Humanitarian needs ... Read More »

Belgium stocks lower at close of trade; BEL 20 down 0.02%

Chinese stocks drop on growth concern as banks, developers fall

BRUSSELS: Belgium stocks were lower after the close on Tuesday, as losses in the Financials, Telecoms and Consumer Services sectors led shares lower. At the close in Brussels, the BEL 20 fell 0.02%. The best performers of the session on the BEL 20 were UCB (BR:UCB), which rose 2.09% or 1.20 points to trade at 58.58 at the close. Meanwhile, ... Read More »

Belgium’s Greenyard Q1 sales hit by British pound

BATH, ENGLAND - APRIL 04:  The new £1 pound coin is seen alongside US dollar bills and euro notes on April 4, 2017 in Bath, England.  Currency experts have warned that as the uncertainty surrounding Brexit continues, the value of the British pound, which has remained depressed against the US dollar and the euro since the UK voted to leave in the EU referendum, is likely to fluctuate.  (Photo by Matt Cardy/Getty Images)

BRUSSELS: Greenyard, the Belgium producer of fresh, frozen and prepared fruit and vegetables, saw first-quarter sales decrease as revenue was impacted by movements in exchange rates, mainly the British pound. The company said in a statement yesterday (29 August) that it booked sales of EUR1.1bn (US$1.3bn) in the three months through June, a 0.9% decline from a year earlier. Of ... Read More »

Belgium stocks lower at close of trade; BEL 20 down 0.31%

low growth rate

BRUSSELS: Belgium stocks were lower after the close on Friday, as losses in the Consumer Services, Utilities and Telecoms sectors led shares lower. At the close in Brussels, the BEL 20 fell 0.31%. The best performers of the session on the BEL 20 were Umicore NV (BR:UMI), which rose 2.48% or 1.54 points to trade at 63.53 at the close. ... Read More »

Belgium new European buyer of Iran’s petchem products

Iran Belgium

TEHRAN/BRUSSELS: Iran started exports of its petchem products to Belgium since the beginning of the present Iranian calendar year (started on March 21, 2017), local media reported on Monday. Quoting the Managing Director of Mahabad Petrochemical Complex (MAPC) Mohsen Majidi as saying, the report confirmed that as of the said time, MAPC has exported 90,000 tons of its products, worth ... Read More »

Belgium’s pig production drops to historic low


BRUSSELS: The number of pigs reared in Belgium dropped to 6.8 million last year, its lowest level in three decades, according to farm statistics from the Federal Public Service for Economy (SPF Economy).On the other hand, the number of chickens increased by 14%, reaching an all-time high. Investors are pumping more and more money into poultry and increasingly less into ... Read More »

Belgium lost over €221b to tax havens in 2016

tax haven

BRUSSELS: Belgian companies transferred more than 221 billion euros to offshore tax havens in 2016, Le Soir, an evening newspaper, reported on Monday, citing Belgium’s Federal Public Service – Finance department’s statistics on declarations of payments to banks in these countries. Under Belgian tax laws, all companies are obliged to declare such transactions when they send over 100,000 euros per ... Read More »

Biggest banks in Denmark face $15b Basel Capital Bill


COPENHAGEN: Denmark’s five biggest banks face as much as $15 billion in new capital requirements under proposed changes to global banking rules, according to an expert panel created by the government. Danske Bank A/S the country’s biggest financial group, and others will together see their capital requirements rise 27-39 percent, equivalent to 64-92 billion kroner ($15 billion), the panel said ... Read More »